Mas­ter­card Brings On For­mer U.S. Trade Chief

L'Opinion - - The Wall Street Journal & L'opnion - An­na­ma­ria An­drio­tis

Mas­ter­card Inc. has hi­red Mi­chael Fro­man, a for­mer Oba­ma and Clin­ton ad­mi­nis­tra­tion of­fi­cial, as vice chair­man and pre­sident of stra­te­gic growth.

Mr. Fro­man will be in charge of teams pro­mo­ting card usage and fi­nan­cial in­clu­sion in mar­kets abroad and in the U. S. through part­ner­ships with go­vern­ments and other en­ti­ties.

The hire is part of the la­test ef­forts at Mas­ter­card to part­ner with go­vern­ments to boost card pay­ments.The com­pa­ny in recent years tea­med up with sub­way systems in Chi­ca­go and Lon­don to work on re­pla­cing sub­way cards with a pay­ments sys­tem that al­lows consu­mers to use contact­less- en­abled de­bit and cre­dit cards to en­ter the sub­way sys­tem. Mas­ter­card says it is in the ear­ly stages of wor­king on this conver­sion with the New York Ci­ty sub­way.

Mas­ter­card tea­med up with the South Afri­can go­vern­ment se­ve­ral years ago to change how cer­tain so­cial be­ne­fits are paid to re­si­dents. The be­ne­fits are now being dis­tri­bu­ted with pre­paid cards in lieu of cash, the com­pa­ny says.

Mr. Fro­man will re­port to Mas­ter­card chief Ajay Ban­ga. The two chief Ajay Ban­ga. The two wor­ked to­ge­ther at Ci­ti­group Inc. in the ear­ly 2000s. Mr. Fro­man was U. S. trade re­pre­sen­ta­tive du­ring the Oba­ma ad­mi­nis­tra­tion and a Trea­su­ry of­fi­cial du­ring Clin­ton’s pre­si­den­cy.

Mi­chael Fro­man will help the com­pa­ny pro­mote card usage in mar­kets abroad.

SI­PA PRESS

Mi­chael Fro­man.

Newspapers in French

Newspapers from France

© PressReader. All rights reserved.